And Universal Pictures took in $200 million less in profit during the quarter over last year with pics like “It’s Complicated” and “Couples Retreat” unspooling during the period, while overall sales at the studio fell more than $400 million to $1.2 billion.

There are signs the advertising market is making a comeback: Ad prices at NBC are 20% higher than commercials sold in May, before the start of the TV season in September. Cable ad prices are 30%.

Overall, GE reported better-than-expected earnings of $3 billion during the period, compared to $3.7 billion a year ago. It generated

$41 billion in revenue, a decline of 10%, and said it is seeing positive signs for the rest of the year, namely because of an uptick in orders for equipment. As orders pick up, “We’re positioned for growth in 2011 and beyond,” said GE chief Jeffrey Immelt during a conference call.

One area it doesn’t expect that to happen is at NBCU, which GE is looking to sell to Comcast for $30 billion, as it reshapes its overall business to be a more streamlined industrial company, making jet engines and wind turbines. Immelt said the deal may be completed within a year, given that the company must now get the approval from regulators.

For the year, GE reported a 14% decline in revenue of $157 billion and profits of $11 billion, a steep 38% drop.